MMHVW - I like this company- it has a strong future - but fm how long will it take?
"The fourth quarter financial performance was under our expectations due to the delay in engineering services revenue and chip orders from two top tier consumer electronic companies, as a result of changes to their own internal schedules," CEO Stephen Rizzone said in a statement. "While such a scenario is not uncommon when introducing a completely new, game changing technology to some of the largest consumer electronic companies in the world, we continue to drive toward commercialization of WattUp."
Now what
Energous also noted that its first customer product received FCC certification in December, and just yesterday obtained its first customer EU approval. This week, Energous also announced a partnership with vivo Global to explore integrating its WattUp technology into smartphone designs to enable wireless charging.
The company also said it priced a $25 million direct offering, issuing 3.33 million shares at a price of $7.50 to certain institutional investors. Each share being sold to investors will come with a warrant to purchase another half share at an exercise price of $10 per share. The net proceeds to Energous from the offering are expected to be roughly $23.3 million.
"The fourth quarter financial performance was under our expectations due to the delay in engineering services revenue and chip orders from two top tier consumer electronic companies, as a result of changes to their own internal schedules," CEO Stephen Rizzone said in a statement. "While such a scenario is not uncommon when introducing a completely new, game changing technology to some of the largest consumer electronic companies in the world, we continue to drive toward commercialization of WattUp."
Now what
Energous also noted that its first customer product received FCC certification in December, and just yesterday obtained its first customer EU approval. This week, Energous also announced a partnership with vivo Global to explore integrating its WattUp technology into smartphone designs to enable wireless charging.
The company also said it priced a $25 million direct offering, issuing 3.33 million shares at a price of $7.50 to certain institutional investors. Each share being sold to investors will come with a warrant to purchase another half share at an exercise price of $10 per share. The net proceeds to Energous from the offering are expected to be roughly $23.3 million.
Note
Just double up on the dip
Lord MEDZ
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Lord MEDZ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.